Remember Game of Thrones and how they backpacked 8 whole seasons on the single tagline, “Winter is Coming?” Series finale controversy aside, if they can squeeze a tagline to the bitter, chilly end, then we can write a single blog… no matter how long it’s been since Bran the Broken seized the throne.
The COVID wave we’re riding has many similarities to the Tale of the Seven Kingdoms. We’ve seen kingdoms fall. We’ve also seen some rise up. But like in the Song of Ice and Fire, the worst is yet to come.
Economists predict that the current recession is only the tipping point. We must brace ourselves for an even more monstrous economic decline. What does this mean for your budget? More importantly, what does this mean for your marketing strategy? Here are some tips to define your recession marketing strategy.
1. Pick Your House
As you look ahead to 2021, you’ll have to decide whether it’s time to take an offensive or a defensive position in the marketing game. The digital economy and the quick shift in tactics means all bets are off. As purse strings tighten and we brace for the harsh winter to come, you’ll want to choose the house that fits your strengths and helps compensate for your weaknesses.
2. Build Alliances
Collaboration has always been a key to success. Now, in this socially distant reality, it’s as crucial as ever before. Define who your indirect partners are. Get creative with designing valuable and unique virtual experiences.
3. Break Out The Dragons
Now is not the time to play it safe. It’s time to call in your dragons! While you can still be strategic in your recession marketing strategy while using limited resources, it’s also a new time where the rules have changed, and you can build an extreme test and learn environment to really flush out what works – and what doesn’t.